Tag «8th Circuit»

Ponzi Scheme Trustee Has Standing to Pursue Recovery Claims, and Is Not Barred by in Pari Delicto Doctrine, in Sixth Circuit

Ponzi Scheme Trustee Has Standing to Pursue Recovery Claims, and Is Not Barred by in Pari Delicto Doctrine, in Sixth Circuit, Which Joins Third, Eighth and Eleventh Circuits in Declining to Follow Second Circuit’s Wagoner Rule In 1991, the Second Circuit, in Shearson Lehman Hutton, Inc. v. Wagoner, 944 F.2d 114, 120 (2d Cir. 1991), held …

Objective “Knew or Should Have Known” Standard Applies to Good Faith Defense to Actual Fraudulent Transfer Claim

While a defendant who received transfers from an insolvent or fraudulent enterprise in good faith and for reasonably equivalent value may ultimately defeat an actual fraudulent transfer claim, the plaintiff is not required to negate an anticipated good faith defense in the complaint to adequately state a claim. Such a defense is an affirmative defense …